BUSINESS CONCEPT :: Product Portfolio :: Product Definition
WORKSHEET BUSINESS CONCEPT
CHECKLIST FOR PRODUCT AND SERVICE VARIATIONS Variation options for services
Variation options for products
- Duration (short, medium, long) - Level (low, medium, high) - Quality (low/good/high) - Staffing - Scope
- Color (red/green/blue, etc.) - Size (S/M/L) - Materials (wood/plastic/metal) - Quality (low/good/high) - ...
Variation options for products and services
- Price (low/medium/high) - Technology (low-tech/high-tech) - ...
w e i v e r p Expansion of the product portfolio
By expanding our product portfolio we can attract more customers and increase the revenue on existing customers.
INTRODUCTORY PRODUCTS /SERVICES
CORE PRODUCTS /SERVICES
ADD-ON PRODUCTS/ SERVICES
FLAGSHIP PRODUCTS/ SERVICES
Start by listing all of your company’s core products and services.
Note in which (new) ways the product or the service can be offered in different variations. Also consider whether you are able to offer a service to a physical product, or a physical product to a service.
Continue by listing all current and maybe even new introductory products and services. These might be the first purchases of new customers. Evaluate your options for defining add-on products and services that can change or improve the core products. Finally define the most extended or luxurious flagship product that your company is able to offer customers.
Produce an action plan to develop new products and services that will expand your company’s product portfolio.
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